Why Is Life Insurance Important?
Life insurance is about protection. It helps provide security for your loved ones when they need it most. Protecting your family with life insurance can help ensure that they do not face the added burden of financial pressures, should the unexpected happen. A life insurance plan may also be tailored to provide financial protection to cover business needs. Protecting your business interest with life insurance can include covering business debt, funding buy-sell agreements, or providing key-person coverage. Life insurance is a valuable planning tool that can easily be a part of an overall financial plan or stand-alone as a single source of protection. Properly planning for your life insurance needs today can provide a lifetime of financial security tomorrow.
Why Consider Term Life Insurance?
Term life insurance is designed to provide pure death benefit protection for a specific period of time, usually 10, 15, 20 or 30 years. Generally, it’s less expensive than permanent insurance, making it an affordable way to provide financial security for your personal or business needs. You can choose the amount of coverage needed and the length of the protection period based on your specific needs. Typically it can also be renewed upon completion of the initial term period selected.
Term Life Insurance Can Cover Many Different Needs
- Replacing income of a wage earner.
- Paying off a home mortgage or other debt to ensure that your family can remain in their home.
- Providing for educational expenses such as college.
- Covering childcare expenses.
- Providing care for dependent elder family members such as a parent.
- Paying for final expenses.
- Providing for business continuation by funding buy-sell agreements or providing key-person coverage.
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